Workday Stock Falls After Loss Doubles; Adjusted. EPS Falls Short
27 May 2022 - 7:33AM
Dow Jones News
By Will Feuer
Shares of Workday Inc. fell more than 9% in after-hours trading
after the human resources cloud-software company posted
first-quarter adjusted earnings that came up short of expectations
and modestly raised some aspects of its full-year guidance.
The company posted a quarterly loss of $102.2 million, or 41
cents a share, compared with $46.5 million, or 19 cents a share, a
year earlier. Analysts surveyed by FactSet were expecting a loss of
44 cents a share.
Stripping out stock-based compensation and other one-time items,
adjusted earnings came in at 83 cents a share. Analysts surveyed by
FactSet were expecting adjusted earnings of 85 cents a share.
Total revenues rose 22% to $1.43 billion, matching analysts'
expectations, according to FactSet.
The company modestly raised its fiscal 2023 subscription revenue
guidance to a range of $5.537 billion to $5.557 billion, up from
the range of $5.530 billion to $5.550 billion it had offered in
February.
The company said it expects current-quarter subscription revenue
of $1.353 billion to $1.355 billion. According to FactSet, analysts
were expecting second-quarter subscription revenue of $1.353
billion.
Workday maintained its adjusted operating margin guidance of
18.5% for the year.
The stock tumbled after results, falling 9% to $153 a share.
Shares were down more than 38% so far this year, before the
after-hours drop.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
May 26, 2022 17:18 ET (21:18 GMT)
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